GOOD – In the run-up to the G7 finance ministers’ meetings, the US Treasury Department, several global development banks and other groups presented a multibillion-dollar plan designed to address the global food security crisis, which has been exacerbated by Russia’s war in Ukraine.
The finance ministry announced on Wednesday that several global development banks were “working quickly on financing, political participation and technical assistance” to prevent starvation caused by the war, rising food prices and crop damage.
Tens of billions will be spent on supporting farmers, eliminating the crisis in fertilizer supplies and developing land for food production, among other issues.
The Asian Development Bank will contribute to Afghanistan and Sri Lanka, and the African Development Bank will use $ 1.5 billion to help 20 million African farmers, according to the Ministry of Finance.
The European Bank for Reconstruction and Development, the Inter-American Development Bank, the International Fund for Agricultural Development and the World Bank will also contribute tens of billions in the coming months and years to support food producers and address supply shortages.
The plan follows a meeting Ellen convened in April at spring meetings of the International Monetary Fund and the World Bank, where she called on powerful countries to look for concrete ways to tackle the impending food security crisis worldwide caused by Russia’s war in Ukraine. got worse.
Russia and Ukraine produce a third of the world’s wheat supplies, and the loss of goods due to the war has led to rising food prices and uncertainty about the future of food security in the world, especially in poor countries.
Jelen arrived in Germany for a meeting of the finance ministers of the Group of Seven Leading Economies in Bonn, Germany, later this week.
She met on Tuesday with EU Commission President Ursula von der Leyen in Brussels. Yelen said they discussed “major issues related to energy security, Ukraine’s economic needs and continue to coordinate sanctions against Russia.”
While European countries plan to phase out Russian oil and gas, the United States is urging EU leaders to consider possible oil tariffs and other methods to prevent Russia from benefiting from rising energy prices.
Yellen’s visit to Europe, which included time in Poland, is designed to address the effects of the war in Ukraine, an international tax plan she agreed with more than 130 countries last year, and an energy crisis that is contributing to high inflation around the world.
Along with the task of imposing financial sanctions on Russia, spreading pandemic programs and other responsibilities, Helen will now be responsible for ensuring that the world’s most vulnerable do not starve as the war in Ukraine rages and threatens wheat and grain supplies. all over the world.
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